Sri Lanka has declared every Wednesday a public holiday to conserve fuel as the island nation grapples with possible shortages in the wake of the US and Israel's war with Iran.

We must prepare for the worst, but hope for the best, President Anura Kumara Dissanayake stated during an emergency meeting with senior officials on Monday.

This decision is part of a series of austerity measures taken across Asian countries following the escalation in conflicts in the Strait of Hormuz, a critical passage for oil transport.

Nearly 90% of oil and gas exports through the strait last year were headed to Asia, the world’s largest oil-importing region.

Other Asian Responses

In response to the crisis, other countries in Asia are introducing various measures. For instance, Thailand encourages workers to dress more casually to reduce air conditioning needs; Myanmar has mandated alternate-day operation of private vehicles; Bangladesh is rolling out planned power outages; and the Philippines has restricted non-essential travel in the public sector.

Additional Measures in Sri Lanka

Sri Lanka's new four-day workweek will apply to schools and universities but will spare essential services. Motorists must register for a National Fuel Pass to limit fuel purchase, a system that has sparked dissatisfaction due to low ration amounts.

The country is still feeling the impact of an economic crisis that began in 2022, which drained foreign reserves and precipitated commodities shortages, including fuel.

As oil prices rise to around $100 a barrel due to regional instability, Sri Lanka’s fuel conservation efforts underscore a growing trend of regional austerity.